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Today’s housing finance data for January registered the fourth consecutive monthly decline in buyer demand for newly constructed dwellings, with the number of commitments for construction and new dwellings down a combined 5.3% in January and by 5.6% over the year (see next chart).
The boom in new housing commitments also looks to have have past its November 2014 peak (see next chart).
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.